Guideline Value for ILANGO STREET(GRAMA STREET)

Ilango Street(Grama Street) guideline value

The current guideline value of Ilango Street(Grama Street) is Rs 3,700 per sq.ft, effective from 1 July 2024. It is located in Thiruvottiyur village under the Thiruvottiyur SRO, with a land classification of Mixed Special Type - II.

How the guideline value of Ilango Street(Grama Street) has changed

The guideline value has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 3,400 per sq.ft in 2012. However, it then decreased to Rs 2,278 per sq.ft in 2017. The 2023 revision saw an increase to Rs 3,400 per sq.ft, followed by a further rise to Rs 3,700 per sq.ft in 2024, marking a 9% increase from the previous year.

From 2007 to 2024, the overall increase in the guideline value is 517%. The changes between revisions include a 467% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a substantial 49% increase from 2017 to 2023. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. Ilango Street's 2024 figure is above this median.

• Horizon Appartment: Rs 5,500 per sq.ft (2024)
• Indra Nagar: Rs 2,800 per sq.ft (2024)
• Glass Factory Road: Rs 1,900 per sq.ft (2024)
• Jeevanlal Nagar: Rs 3,700 per sq.ft (2024)
• Jeevarathinammal Nagar: Rs 3,300 per sq.ft (2024)
• Ganga Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Ilango Street(Grama Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,700 per sq.ft, the total guideline value amounts to Rs 37,00,000. The stamp duty at 7% would be Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, bringing the total to Rs 3,33,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ilango Street(Grama Street)?

The Sub Registrar Office that covers Ilango Street(Grama Street) is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Thiruvottiyur

The guideline value plays a crucial role in the registration process of property transactions in Thiruvottiyur. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is legally documented and the appropriate taxes are collected.

When buying or selling property, the guideline value is assessed to ensure compliance with local regulations. It serves as a benchmark for property transactions, helping to standardize the process and provide transparency in property dealings.

Frequently asked questions

What is the current guideline value of Ilango Street(Grama Street)?

The current guideline value of Ilango Street(Grama Street) is Rs 3,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,700 per sq.ft in 2024, showing a significant increase of 517% overall.

What is the median guideline value in Thiruvottiyur?

The median guideline value in Thiruvottiyur is Rs 3,300 per sq.ft, with Ilango Street's 2024 figure being above this median.

What are the stamp duty rates for property transactions in Ilango Street(Grama Street)?

The stamp duty for property transactions in Ilango Street(Grama Street) is charged at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ilango Street(Grama Street)?

The Sub Registrar Office for Ilango Street(Grama Street) is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.